Abraxis was a being who lived in an unnamed dimension. He has managed to conquer every planet within the dimension and set up his home in a castle on a planet where the natives resembled Earth cavemen. When Waverider first came into being in the New Earth dimension, Abraxis sensed his existence and the existence of the New Earth dimension. He was able to subconciously contact twelve individuals and influence them to meet in Wyoming where they cast a spell that opened a limited portal between their dimension and Abraxis'. He offered the assemblage power and the opportunity to rule their dimension by his side, to which they agreed. They offered him their souls which he imbued with a portion of his power and returned transforming them into Daemen. He sent the Daemen to four time periods: Prehistoric, World War II, August 1991, and the Far Future. There they each built a simulacrum for Abraxis to send a fourth of his awareness into: once all four were activated, he'd be able to conquer the universe.
Unfortunately for Abraxis, Waverider was able to sense Abraxis' incursion and rallied heroes to stop him in the four time periods, but the Daemen were powerful enough to hold them off long enough for Abraxis to send his awareness into each of the simulacra. Spectre, who was one of the rallied heroes, confronted Waverider and said that the heroes could not win unless they forced Abraxis to divide his awareness again, creating a fifth front - this one in his home dimension. When Waverider explained that he could not send additional heroes without damaging the time line, Spectre told him of the Justice Society of America who were, at the time, trapped in a limbo dimension. The two of them were able to freeze the limbo long enough for the JSA to fight Abraxis. During the battle, the JSA brought god-like energy and imbued it to the natives who were able to join the fight. The final fate of Abraxis was never verified but it's likely he was killed during the assault on his homeworld. The Daemen were taken by Waverider to the limbo dimension and left them in the JSA's place forcing them to fight for eternity to save the universe while the JSA returned home.